NVD vs. ZIVB

Last updated Jun 5, 2026

NVD (GraniteShares 2x Short NVDA Daily ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. Both are actively managed. NVD charges 1.50%/yr vs 1.35%/yr for ZIVB.

Performance

NVD vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short NVDA Daily ETF (NVD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NVD

• 1D: -3.65%
• 1M: -22.72%
• YTD: -37.20%
• 6M: -40.09%
• 1Y: -68.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NVD vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
NVD GraniteShares 2x Short NVDA Daily ETF	-5.47%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%

Return for Risk

NVD vs. ZIVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVD

NVD Risk / Return Rank: 1
NVD Sharpe Ratio Rank: 1
NVD Sortino Ratio Rank: 1
NVD Omega Ratio Rank: 1
NVD Calmar Ratio Rank: 1
NVD Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NVD vs. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NVD	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	—	—
Sortino ratio: Return per unit of downside risk	-1.75	—	—
Omega ratio: Gain probability vs. loss probability	0.81	—	—
Calmar ratio: Return relative to maximum drawdown	-0.94	—	—
Martin ratio: Return relative to average drawdown	-1.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NVD	ZIVB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.88	—	—

Drawdowns

NVD vs. ZIVB - Drawdown Comparison

The maximum NVD drawdown since its inception was -99.26%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for NVD and ZIVB.

Drawdown Indicators

	NVD	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	0.00%	-99.26%
Max Drawdown (1Y) Largest decline over 1 year	-72.64%	—	—
Current Drawdown Current decline from peak	-99.15%	0.00%	-99.15%
Average Drawdown Average peak-to-trough decline	-81.68%	0.00%	-81.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.83%	—	—

Volatility

Volatility by Period

	NVD	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	68.48%	0.00%	+68.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.55%	0.00%	+92.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.55%	0.00%	+92.55%

NVD vs. ZIVB - Expense Ratio Comparison

NVD has a 1.50% expense ratio, which is higher than ZIVB's 1.35% expense ratio.

Dividends

NVD vs. ZIVB - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 18.83%, while ZIVB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	18.83%	11.83%	8.68%	15.78%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, NVD or ZIVB?

On fees, ZIVB is cheaper at 1.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVD or ZIVB?

ZIVB is cheaper with a 1.35% expense ratio, compared with 1.50% for NVD.

Which ETF pays a higher dividend yield, NVD or ZIVB?

NVD has the higher dividend yield at 18.83%, compared with 0.00% for ZIVB.

What is the main difference between NVD and ZIVB?

They also come from different issuers: GraniteShares and Volatility Shares. Their fees differ too: 1.50% for NVD and 1.35% for ZIVB.